Fed Rates Talk Drives Down Shekel
The U.S. Federal Reserve signal of a coming rise in interest rates has sent the dollar up and the shekel down.
In afternoon inter-bank trading on Thursday, the shekel exchange rate was up 0.66% against the dollar at NIS 3.197/$ and down 0.16% against the euro at NIS 3.577/€, Globes reported.
The dollar strengthened in global markets after Federal Reserve chair Jerome Powell reiterated that interest rates need to rise in order to help contain inflation. That caused the shekel to trade at levels against the dollar not seen since October 2021.
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